Strategic Partnership Between Orion Resource Partners and SNB Capital to Boost Saudi Mining Sector

Introduction

Orion Resource Partners LP, a renowned global investment firm known for its specialization in mining and metals, has forged a groundbreaking strategic partnership with SNB Capital Company, a leading financial institution in Saudi Arabia. This collaboration aims to catalyze the growth of the mining sector in the Kingdom and broaden access to vital commodities that are crucial for the region's economic development.

Aligning with Vision 2030

This partnership represents a significant milestone as it is the first collaboration of its kind within Saudi Arabia's mining industry. It aligns seamlessly with the Kingdom's Vision 2030 initiative, a framework aimed at diversifying the economy and reducing dependence on oil. Vision 2030 encourages significant investments in mining, energy transition technologies, and the development of critical minerals that are increasingly vital for industrial growth and infrastructure upgrades.

Leveraging Strengths

The collaboration will harness Orion’s extensive technical and operational expertise across the global metals and mining value chain and combine it with SNB Capital’s robust local market knowledge and institutional strengths. This synergy will enable both parties to successfully identify and nurture mining and midstream projects in Saudi Arabia. The primary focus will be on initiatives that have the potential for near-term production, thereby ensuring that the Kingdom can capitalize on its abundant natural resources promptly.

Investment Plans

While the specific financial commitments have not been disclosed, the strategic investment approach will prioritize projects that contribute to a secure and diverse supply chain of essential minerals. This is particularly critical given the global shift towards sustainable energy solutions and the growing demand for high-quality materials crucial for such transitions.

Statements from Leadership

Abdulrahman Almashal, the Chief of Staff at SNB Capital, expressed enthusiasm regarding this partnership, emphasizing its potential to position Saudi Arabia as a formidable player in the critical minerals arena. He pointed out that the Kingdom is rich in untapped resources, with an overarching ambition to develop a first-rate mining ecosystem that would create long-term value in local and international markets.

Tim Keating, Managing Partner at Orion, remarked on the timeliness of this collaboration. With the global demand for critical minerals surging, and the support of Saudi Arabia's Vision 2030, the partnership is poised to make a significant contribution to local mining capabilities and the broader economic diversification efforts in the Kingdom. They aim to invest prudently in mining assets that not only bolster the industry but also attract foreign direct investments into the country.

Conclusion

The partnership between Orion Resource Partners and SNB Capital marks a pivotal step towards the realization of Saudi Arabia's mineral potential under the Vision 2030 strategy. By merging global expertise with local insight, both companies are set to drive forward the Kingdom's ambitions of emerging as a leader in the global mining sector. More updates and specific project details are anticipated as this promising collaboration develops further.

About Orion Resource Partners

Orion Resource Partners LP manages over $8 billion in assets, focusing on metals and materials essential for lasting economic growth and energy transition. With a decade of experience in various facets of the metals and materials market, Orion's commitment to sustainability is evident in its adherence to the UN PRI and the IFC Performance Standards.

About SNB Capital

As a licensed entity under the Capital Market Authority (CMA), SNB Capital stands as a premier financial institution in the Middle East. It has a stellar reputation for managing assets, brokerage services, and investment banking. With assets under management surpassing SAR 246 billion ($65 billion), it continues to secure its role at the forefront of financial markets in Saudi Arabia.